Bank of Baroda has informed that in the limited review report of the Bank for the quarter ended June 30, 2007, the auditors of the Bank have made the following observations:
1. Effect on the Financial Results for the Quarter ended June 30, 2007 as arising out of matching / reconciliation of debit and credit outstanding entries in various heads of accounts, included in Inter Office Adjustments, NOSTRO, Drafts / TTs, Payable, Clearing Adjustments, Dividend / Interest / Refund Orders Paid / Payable etc., has not been ascertained, and accordingly not considered.
2. The bank has neither ascertained nor provided for the transitional Employee benefits for the quarter. The same is not in accordance with revised Accounting Standard (AS) - 15, which is mandatory for the current accounting year.
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